Kaisa haircut is bad omen for China property debt

Kaisa’s haircut for offshore bondholders is a bad omen for China’s property sector. The troubled developer’s ballooning debt and evaporating cash leaves creditors with little choice but to accept a restructuring that proposes to lower interest payments and extend maturities by five years on $2.3 billion of offshore bonds. The […]



Reuters via CHINA US Focus http://ift.tt/1wl01BZ